Family Bank has appointed Nancy Njau as new Managing Director and CEO. Ms Njau replaces Ms Rebecca Mbithi who exits after a five-year term at the helm of one of Kenya’s successful indigenous banks.
The Board of Directors of Family Bank announced yesterday, 22nd Nov. 2023, that Rebecca Mbithi, who served as the Managing Director and CEO since 2019, is transitioning from the bank to “pursue other personal interests.” Before ascending to CEO position at Family Bank, she served the bank as the Company Secretary and Chief Legal Officer.
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During her five years as the MD and CEO, Ms Mbithi steered Family Bank through a turbulent season that included the COVID-19 pandemic. The board says she leaves the bank having led it through a period of steady growth in profitability and spearheaded development of staff capacity through various trainings.
Ms Mbithi also spearheaded the bank’s digital transformation, leading to recognition among the top-performing banks in terms of customer responsiveness and satisfactory digital experiences by the Kenya Bankers Association (KBA).
During Ms Mbithi’s tenure, the bank maintained a stable outlook, underpinned by a strong market position, a robust funding base and excellent liquidity, as recognized by Global Credit Rating, a South African rating firm. Under her leadership, Family Bank’s asset base almost doubled between 2019 and 2023 while loan book grew by over 40%.
“We would like to sincerely thank Rebecca Mbithi for her immense contribution to Family Bank journey,” said Dr Wilfred Kiboro, the Chairman of Family Bank’s Board of Directors. “She steered Family Bank to steady growth in profitability while offering the customers even greater value in products and services.”
Notably, Ms Mbithi shepherded the bank during a very successful corporate bond issuance. “As a Board, we would like to wish her all the best in her new endeavour,” Dr Kiboro said.
Meanwhile, the appointment of Nancy Njau as the new MD & CEO is pending regulatory process and approvals. Ms Njau has served the bank for 21 years in various capacities including being the Head of Retail Banking, Chief Officer Public Sector and currently the Ag. Chief Commercial Officer.
She holds a Master’s Degree in Business Administration specializing in Strategic Management from Jomo Kenyatta University of Agriculture and Technology, a Bachelor of Commerce Degree (Accounting) from Kenyatta University and a Higher Diploma in Human Resource Management. In addition, she is a Certified Public Accountant of Kenya (CPA-K) and a Certified Executive Leadership Coach.
She has also attended the prestigious Advanced Management Program (AMP) from Strathmore University. She has attended numerous courses on Performance Management, Credit Management, Transformational Leadership, Customer Service among others.
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